Thursday, April 7, 2011

The Good, the Bad, and the ugly

The market the last few days has been in a kind of funk and basically just trading sideways. Depending on what you own, it could be kind of ugly seeing your profits dwindle away. Today the ugliest thing that happened is that I got stopped out of HYC for a $216.33 loss and I guess it was just a bad call entering this because I never was in the money. The bad that I had was just watching my profit erode away to nothing. Both PAY and POT, I really did not want to sell but both had sunk to under the 5 and 10 day moving averages on the 30 minute chart, so I just took my current profit and threw the stocks into my radar box. ORLY, I just sold it because I was tired of watching my money do nothing.

Now the good, most traders will think why the hell did you sell this one. Look if you have a stock jump 15% or more in one day, what do you think happens the day after? REE finish the day up over 16% and I got most of that. I sold at $15.20 and it closed at $15.30. Nice pop, and I took the profit. Below you will see all my sales for Thursday. I was a bit busy.